U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market.
Facebook said Thursday that it is selling an additional 70 million shares of its Class A common stock in a secondary offering that may be worth around $4 billion.
The Federal Reserve said Wednesday it will modestly pare back its extraordinary easy-money program, citing recent momentum in the economy and job market.
WASHINGTON (Reuters) - Home resales hit a near one-year low in November and new filings for unemployment benefits unexpectedly rose last week, putting a wrinkle in an otherwise brightening economic picture.
Mortgage rates rose a bit this week following positive news on home building, with Freddie Mac saying lenders were offering a 30-year fixed-rate loan at an average of 4.47%, up from 4.42% last week.